Can Bitcoin Cash Reach $1,000?
The Bitcoin Cash (CRYPTO: BCH) cryptocurrency bills itself as a system of "peer-to-peer electronic cash."
That vision carries subtle but important differences from Bitcoin, where the battle cry is "a new kind of money." Bitcoin offers payment services but mainly wants to store and protect your wealth in the long run. Bitcoin Cash started from the same code base but tweaked a few parameters to speed up its transaction processing. So Bitcoin wants to be a solid tool for generic money management. Bitcoin Cash serves as a nimbler payment processor, with less long-term stability and a potentially weaker data security model.
With this transaction-friendly focus, it should come as no surprise that Bitcoin Cash is more volatile than Bitcoin. For instance, the smaller and swifter cryptocurrency has doubled its price in 2023 while Bitcoin gained 55%. At the same time, the current price of $199 per Bitcoin Cash token is far from the three-year high of $1,547.
Source Fool.com
